Realty gains ground lost to Covid: Housing loan offtake up | Business News,The Indian Express
Credit growth to industry accelerated by 8.1 per cent to Rs 31.52 lakh crore in April 2022 from a contraction of 0.4 per cent in April 2021, the RBI said.
Housing loan outstanding rose by 13.7 per cent, or over Rs 2.06 lakh crore, to Rs 17.06 lakh crore during the 12 months ended April 2022, signalling that the real estate sector is on the recovery path after witnessing a slowdown triggered by the Covid pandemic.
The growth in housing loans was 9.9 per cent at Rs 15 lakh crore in the same period of last year, according to Reserve Bank of India data. Credit growth to industry accelerated by 8.1 per cent to Rs 31.52 lakh crore in April 2022 from a contraction of 0.4 per cent in April 2021, the RBI said.
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HDFC Ltd had said it recorded its highest monthly individual disbursements ever in March. This is despite the fact that the previous year entailed concessional stamp duty benefits in certain states which were not there in the current year, HDFC said earlier this month.
State Bank of India, the largest player in the segment, said its home loan book rose 11.5 per cent year-on-year to Rs 5.61 lakh crore in the March 2022 quarter. “Home loan rates are now on the rise after the RBI hiked the Repo rates by 40 basis points to 4.40 per cent. Interest rates and EMIs are set to rise further,” said a senior banker.
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